Petrel Resources Share Discussion Threads

[lippe] 22/9/2021 12:35

lolz stalking ...

[fenners66] 22/9/2021 10:47

Nothing said to address the position with the Concert Party - other than what we have heard for over 18 months

EIGHTEEN MONTHS ...we are still talking

Sending a text to an ex girlfriend every six months would stand as what in their world ?

[fenners66] 22/9/2021 10:45

"Petrel is funded for ongoing activities."

What activities ?

Admin costs !!

FFS, that is not a credible investment.

It has no ongoing projects - NOTHING added to intangibles in 6 months

"There are no material post balance sheets events affecting the Group."

Surprise !

[fenners66] 22/9/2021 10:43

Now lets get to the RNS "Facts"

They claim in 2020 they had been invited to look at something....

BUT
Having lost another 162,000 EUR in admin costs what have they added to their intangibles for "exploration" ?

Answer - ZERO

Nothing.
So zero capitalised exploration , if they did any , its deemed worthless......

Contrast :
Ireland where they actually HAD real exploration licenses , got written off to Zero because of the political and funding /partnering uncertainty.

However after 13 years of CLON not getting Anywhere with Ghana , indeed they described in need of resuscitation , they STILL value no agreed exploration license at 932k EUR !!

How ?
Why ?

if they were to write that off they would be insolvent ?

[kdickson] 22/9/2021 10:36

LOL Bit Coin! :)

Whatever you want to call it, these first two points are NEW bits of information so there's always hope that our shares might creep forward to the front of the drawer ;)

[fenners66] 22/9/2021 10:33

Bit coin on kd seeing positives in anything is an interesting way to put it !

[kdickson] 22/9/2021 09:10

I actually view this interim statement with a degree of optimism. Here's the points I picked out. I still feel there is hope (especially re first two points), but goodness knows over what timescales:

- At the invitation of Iraqi Government officials in 2020, Petrel submitted a proposal to develop the Merjan oil field, in accordance with applicable laws and the Iraqi Model Contract.

- Petrel has also been asked, by an Iraqi group, to evaluate minerals opportunities that may become economically and legally viable following the expected passage of legislation.

- In discussions shortly before the Covid-19 pandemic, the authorities suggested that Petrel initially target "exploration of blocks in the western desert of Iraq, and present past studies done on the Merjan-Kifl-West Kifl discoveries, and Petrel's work on the Mesozoic and Paleozoic plays in the Western Desert".

- Iraqis value longstanding relationships and independence from foreign players.  They want partners, not bosses.

- Petrel is funded for ongoing activities. The focus is once again Iraq.

[the diddymen] 22/9/2021 08:33

"The biggest challenge facing Petrel in this new era is not operating conditions, access to technology or community relations. The biggest challenge facing agile industry players is outdated contracts and fiscal terms that were designed during boom years."

What a load of cuffin bollix.

The biggest challenge is a Board of chancers on the make.

[ttny2004] 22/9/2021 08:22

Usual story telling from Horgan. Once upon a time ......He has never actually as well know delivered anything, and that's the problem.Even if he could deliver the simplest of things maybe a meaningful purchase of shares with his own money would be something and show faith in future.

[lippe] 22/9/2021 08:15

The investment dollar is an orphan ... classic lolz horgwash

[smcl] 22/9/2021 07:37

Agreed. All just opinions…

[bit coin] 22/9/2021 07:32

Reminds me of an exercise from my child's creative writing class, Aye!

[ajj2003] 22/9/2021 07:29

Buried deep within the monologue

High Court proceedings stopped any dealings in shares held by the Tamraz Group. This position persists though there is ongoing contact

It’s good to talk as they say

[palace pete] 22/9/2021 07:23

Waffle waffle waffle.

[bibdaddy] 22/9/2021 07:20

An awful update- you know you're in trouble when the word unfortunately is used multiple times!

[blakieboy7] 22/9/2021 07:11

Ah! The interims. This makes comical reading

[fenners66] 16/9/2021 14:18

CLON interim report - basically saying that Ghana is dead.
Used the word "resuscitate " which can be an option for up to what , say an hour ?
But never heard of a resuscitation working after 13 years before.....

So if Ghana finally is to be accepted as dead and the CP say this is nothing more than a shell , what's the point ?

[the diddymen] 16/9/2021 13:32

£238.54 traded so far today.

[the diddymen] 14/9/2021 19:34

Air Taffic Control to PET - 'Cleared to crashland'

[the diddymen] 14/9/2021 19:32

It looks like a rabid inflection to me.